Bitcoin Market Cap = $806,398,136.24

[the founder]

Additional Coins though Mining plus increased value just broke another record

 http://www.ounce.me

You can discuss the merits of calling it "market cap"  or whatever,  the end result however is that Bitcoins are reaching a billion dollar economy.


Edit 1: by the time I hit submit it increased to $818,644,743.26  now I fully understand why everyone is staring at that ticker.


Edit 2: $822,051,296.11

It grew 20 million in a matter of 5 minutes...  this is pretty substantial .. it's a record.

[ralree]

I think "total value of all coins in circulation" is somewhat accurate.  I guess lost coins wouldn't be in circulation, though. 

[the founder]

I think "total value of all coins in circulation" is somewhat accurate.  I guess lost coins wouldn't be in circulation, though. 

This get's addressed by the fact that the coins are off the market,  hence the price adjusts automatically.   

If a dude had 100 coins,  now he has 10 ... the price of those 10 eventually adjust to what 100 would be worth.... 

Let's say that the amount of dollars in circulation magically cuts in half,  you'll notice everything around you eventually cuts 50% in cost...  eventually. 

If people had 20 bucks,  now they have 10,  those companies are going to compete for those 10 bucks (they can't compete for 20, 20 doesn't exist).

[Zangelbert Bingledack]

The price does adjust automatically, but since the number of lost coins remains unknown, it's impossible to tell how much of the price growth is higher market cap and how much is lost coins. Hence impossible to know the "actual" total value of all coins outstanding, just the value of all coins not lost.

For example, if it turns out that half of all issued coins have already been lost, the real market cap is only half what it's reported as. (Yes, if half of all coins got lost starting now, the market cap wouldn't necessarily change since the price would likely double. But there is no way to know if the price doubled because of speculation or lost coins.)

[the founder]

The price does adjust automatically, but since the number of lost coins remains unknown, it's impossible to tell how much of the price growth is higher market cap and how much is lost coins. Hence impossible to know the "actual" total value of all coins outstanding, just the value of all coins not lost.

For example, if it turns out that half of all issued coins have already been lost, the real market cap is only half what it's reported as. (Yes, if half of all coins got lost starting now, the market cap wouldn't necessarily change since the price would likely double. But there is no way to know if the price doubled because of speculation or lost coins.)

Yes I am sure coins were lost over the past 3 years.  Especially when they were  100 btc for a penny,  but at the same time I believe that the number of coins lost are a fraction of what you believe they are...

Perhaps the best way to phrase it,  I believe FAR more coins were stolen than lost and stolen coins eventually show up at an exchange.

[novusordo]

If a dude had 100 coins,  now he has 10 ... the price of those 10 eventually adjust to what 100 would be worth.... 

Wait, so I can manipulate the price like that?

*deletes all but 10% of his bitcoins*

[the founder]

If a dude had 100 coins,  now he has 10 ... the price of those 10 eventually adjust to what 100 would be worth....  

Wait, so I can manipulate the price like that?

*deletes all but 10% of his bitcoins*

LOL go ahead...  if everyone did that then the price would adjust correspondingly.   If someone did that personally with a pretend 1 btc out of 2 that he owned. The total number of coins would be one less,  and the price would adjust eventually to reflect that missing coin.

The truth of the matter is the price would go up 1 out of 21,000,000 and his remaining bitcoin would increase in value something like this .000000001%

Don't delete your coin the 75.00000001 vs 75.0000000  doesn't equal 150.

LOL!